Eddie Edwards' Blog

Pick up your real estate cross and follow the bad real estate market. Just like the old gospel song states take up the cross and follow me this song is telling Christians that if they follow the suffering of Jesus they will receive salvation. Well it is the same for us real estate professionals now. We have to continue in the path that we have chosen as a career. Real Estate Brokers and Agents must prepare themselves for the long battle ahead fighting it one war at a time, one deal at a time.

Brokers and Agents are the front line soldiers in this real estate economic war. Prior to the bubble busting it was the prevailing thought that real estate was the way to go. This market has now become a heavy burden to bear for, real estate persons and small investors who are over extended in real estate; locked in with high mortgage balances in a depressed real estate market. Property rich and cash strapped. Sales are now a fraction of what it once was.

The front line soldiers in this war will tell you that it is not easy making a living in the real estate market today. However we are hearing report that the real estate market is showing signs of upward movement in price. I am not a believer in statistics because often times they do not reflect the actuality of the market as it is impacting on the participants.

However I must say that it was welcome news when I heard from recent data, (data release from the Standard and Poor Indices) released that shows that the housing market is slowly growing and home values are leveling off and perched to go upwards. Hope that the front line soldiers will find this data agreeable.

This indices shows that some cities like San Francisco and Washington DC have seen an upswing in the last six months of growth in the value of real estate. Cities like Las Vegas is still showing the negative growth and others are still logging behind. These are statistics provided by standard and Poors. To access the full data visit http://www.homeprice.standardandpoors.com.

With the extension of the First Time Home Buyer’s credit let us all hope that we can see an increase in sales soon. The FTHBC, (First Time Home Buyers Credit) might be the basis on which the data is based on. With the difficulties still exist with the job market still in a downward spin and job creation still not where we would like it to be. Ways must be found to get those FTHB, (First Time Home Buyers) to get off the fence and see the potential of home ownership in this over stocked and over flowing market of Bank Owned Properties. It is now a buyers’ paradise.

Real Estate Agents need to make sure the mind, body and soul are prepared to work hard to find these FTHB. The new wave of sale will still be, FTHB. However it will now be FTHB with verifiable affordability of mortgage. Now we can use the tax credit in place of the Down Payment Assistance Programs. Whatever become of the, DPAPs?

Here are a few tips for the struggling agents;

Take responsibility for your life and circumstances.

Set clear and achievable goals.

Be specific about what you want to achieve from the market.

Be realistic about what you want to achieve from the market.

Focus on the dream that brought you into real estate.

Take regular exercise, to keep you body active and mind Sharpe for the demanding and challenging days ahead.

Take up your cross and carry it to the end and you will see your rainbow and rewards.

Eddie Edwards is a Real Estate Broker licensed in New York and Georgia you can reach him at; eddie@eddieedwardsrealestate.com

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